Why Saudis aren't oil price 'doves' anymore

I think the Saudis are going to keep the cuts going even longer than we anticipate. They've clearly gone hawkish on oil prices because now they have different priorities. They need oil prices to be a lot higher than they are to make the Aramco IPO work... Check out this story from Bloomberg:

https://www.bloomberg.com/news/articles/2018-02-19/once-opec-s-oil-price-dove-saudi-arabia-takes-a-harder-line

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It's been a fairly decent week for oil, too, because of global equity market recovery. But US shale production levels still a major threat. 

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but i don't think it's just about what oil prices look like right now for Aramco. It's also about where they see oil prices in the next year or two. Those are the numbers they're really crunching right now.

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